Mortgage Company claims

[Mochamoos]

Early Redemption Charges on large mortgages (over 25K) are currently pending- keep the faith a way through will be found.
If the Loan is under £25k it is covered by the Consumer Credit Act and the Early Redemption Charges (ERC ) will be set by statute and can not be altered by the county courts.

Yes to claiming
Unpaid Direct Debits
Arrears Charges
Mortgage Exit fee’s
Closing Admin Fee’s
Late payment charges


No to Claiming
Solicitors fee’s
Insurance Fee’s
Arrangement Fee’s
ERC’s – only for the moment


Please check your Mortgage agreements for Legal Indemnity clause’s, these are the mortgage companies safety net where they can recover their Legal fee’s from you!

I will write some letter templates at some point soon--- some one will have to proof read them as my spelling is shocking.

[Bona]

vat

There is the assumption that the client has to pay VAT if you are the third party ie if a solicitor charges the mortgage company VAT they then pas that charge on to you it is incorrect if the mortgage comapny isVAt registerd they can claim it back at no cost to you

[Mochamoos]

Hello Bona, nice to see you here.

[Sapphire]

Am thinking of tackling the Halifax Mortgage peeps, their charges consist of :

Higher Lending Charge
Missed payment fee
Sudry
Arrears Admin Fee
Deeds Despatch Fee

My question is: are these all ok to claim for, and is there anything I should beware of ?

sapphire

[Sapphire]

Same questions as above except against GMAC:

Unpaid DD fee
Arrears Fee
I'm leaving off the early redemption interest - Yes.

Thanks hun

sapphire

[Mochamoos]

Am thinking of tackling the Halifax Mortgage peeps, their charges consist of :

Higher Lending Charge NOT SURE
Missed payment fee YES
Sudry WHATS SUNDRY, NOT ON ANY OF MY STATEMENTS?
Arrears Admin Fee YES
Deeds Despatch Fee SOME COMPANIES YES

My question is: are these all ok to claim for, and is there anything I should beware of ?

OTHER THAN THEM BEING TOUGH COOKIES? HOW MUCH DO THE FEE'S COME TO? MORTGAGE COMPANIES ARE ALOT HARDER THAN BANKS AS THEY HAVE ALOT MORE TO LOSE IN MY OPINION.

sapphire

Same questions as above except against GMAC:

Unpaid DD fee YES
Arrears Fee YES
I'm leaving off the early redemption interest - Yes. YEP ERCS AND ANYTHING RELATED BARGE POLE LENGTH AT THE MOMENT

Thanks hun

sapphire

Cetelco holds the same opinions as me when it comes to penalty charges and mortgage companies. You will be rely on slightly different case law than banks, like bridge vs campbell.

The main thing is to be 100% prepared have all you dpa stuff...(difficult to get from some of them) and loads of reading and harrassing!

Have you had exit fee's from your mortgages?


more later must ahve dinner

[Bona]

Im going for GMAC penalty charges and erc and costs

[Mochamoos]

I forgot you were going after GMAC Bona, hows it going?

[Bona]

Slowley slowley catches monkey at the moment they are adamant that they do not owe us any money my accountant and Barrister say otherwise We have a costs hearing on the 6th August where we are claiming back 50 % of the costs on our account ( solicitors) and we are in email touch with there solicitors if we get nowhere we willissue a part 8 application in the high court for them to give an account of the penalty charges , there erc ect and see what hppens

[Mochamoos]

I think, if I say what I want to about gmac I may become the first moderated user over here Fingers crossed for you

[peed 'orf]

they are adamant that they do not owe us any money my accountant and Barrister say otherwise.

Hi guys. I this something that all/most accountants would understand? I got some stuff through from I Group, don't understand any of it! It might be worth my accountant looking at it.

[Sapphire]

Halifax £2,036.53 + 8% Int £1,546.77
GMAC £390.00 + 8% Int £95.85
Not really a great amount, but nice for me to have nonetheless. I'm a bit sqeamish about this, any advice peeps ?

Have we any template letters for mortgage claims yet ?

sapphire

GMAC did charge £3,308.48 Redemption Interest but I havn't included it. As I have already approached them for this once and got a very terse letter back saying its not their policy to refund it etc etc.

[Mochamoos]

Have we any template letters for mortgage claims yet ?

sapphire

opps I forgot.... wont be able to do this till weekend heavy work week this week...( unless someone else wants to stick their hand up )

[Mochamoos]

Have I ever mentioned how much I hate writting letters? Some one needs to check my spelling, grammer and that Ive got hte right case law in May also need making a little bit more technical.... LOL

Your Name

Address

Their Name
Address

Date

ACCOUNT NUMBER: XXXX

Request for repayment of charges

Dear XXXX,


I am writing to ask you to refund the charges which you have levied on my account in respect of late payment fees to the sum of £XXX .(Please find enclosed schedule of charges detailing dates, amounts and interest). I have now come to the understanding that such fees are unlawful at Common Law, Statute and recent consumer Regulations.

Your charges represent an unfair term of contract which is opposed to the 1999 Unfair terms in consumer contracts regulations. As I am a consumer, my account should comply with Regulation 5 of the Unfair terms in consumer contracts regulations. Your charges are an unfair penalty under Schedule 2 of the aforementioned regulations which provides an indicative and non exhaustive list of terms which may be deemed unfair.

I also feel I should bring to your attention to the following statement by The Office of Fair Trading:

"A term in a mortgage agreement which requires the borrower to pay more for breaching the contract terms than actual costs and losses caused to the lender by the breach (or a genuine pre-estimate of that) is likely to be regarded as an unfair penalty and to be unenforceable both at common law and (in a consumer mortgage) under the Unfair Terms in Consumer Contracts Regulations.�

In 1904 The House of Lords held that a contractual party can only recover for actual or liquidated costs incurred from a breach of contract, not a charge which represents a penalty, as in the case of Castaneda and Others v. Clydebank Engineering and Shipbuilding Co., Ltd. (1904) 12 SLT 498. This law was again upheld in 1915 in the case of Dunlop Pneumatic Tyre Co Ltd v New Garage and Motor Co Ltd [1915] AC 79. NEED A SENTENCE TO FOLLOW THIS BUT MY BRAIN IS BLANK

I believe that the charges you have levied on my account far outstrip any actual cost to your organisation. If you disagree and feel this is not the case then please demonstrate this to me by providing a full breakdown of your costs, in order to reassure me that your charges really do reflect your costs.

I am asking that you refund the charges that you have unlawfully levied on my account. I hope that this can be settled amicably and without the need for me to take court action. If you do not refund the monies that you have unlawfully taken from my account within 28 days, this will result in further action. I will give you 14 days to reply, accepting my request unconditionally and letting me know by which date I shall receive payment.


Yours faithfully,





Your Signature

Your name

[Turboman]

Mortgage Templates

Hi Moochamoo

Does Bridges V Campell need a mention then?

Your earlier post re Legal Indemnity Clauses--are you saying they can claim their Lrgal Fees for defending a claim in the small claims court?

Thanks

Turbo